Pay Off Your Card Monthly? It's For You!
Written: Apr 12 '01 (Updated Apr 12 '01)
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Pros: Fantastic Cash-Back Program; Great Online Savings; Online Account Center
Cons: High APR, Not Accepted Everywhere
The Bottom Line: This card is the best card to use on everyday purchases instead of a CheckCard! Just pay it off each month to avoid the high interest rate!
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| wecallis's Full Review: Discover Card |
The Basics
- Intro APR of at least 1.9%
- Fixed APR of at least 11.9%
- Cashback Bonus of 1% (for almost all purchases, in the form of a check at your 12 month anniversary) or 2% if you convert to a coupon or gift item from Discover
- No Annual Fee
- Best Online Management Interface
- Select Online Shopping Adds More to Your Cashback Bonus
- Only Credit Card Accepted at Sam's Club
- Cool Silver Magnetic Strip :)
The Specifics
The Discover Platinum Card is absolutely the best credit card on the market today, period.
I originally got this card because it was all that Sam's Club offers. I always like to charge everything and avoid carrying cash, or writing checks, at all costs. It is also comforting to have a buffer between a merchant and direct access to my checking account, which is the case for anyone who uses a Check Card. Soon after I got my Discover card, I learned of a great deal of other benefits - other than it being the only one accepted at Sam's!
It is home to the original "Cash-back Bonus Award" which is one of the simplest reward programs I have ever seen. On every purchase, every day, you get 1% cash back in the form of a check at the end of the year. You may elect to double the check's amount in the form of a coupon or gift from a select list provided by Discover. I have always taken the cash, and I have received sizable checks each year for the four years I have had this card, and I couldn't be happier! The cash back program is not like other cards, where you only get cash back if you let your balance roll over to the next month. This program gives you cash back on ALL of your purchases. Because this one has such as great cash back program, let me offer a word of financial advise:
Don't use your check card! Use this card! You'll save 2% on everything you buy, and you'll be getting interest on your checking account in the meantime! It only makes sense to keep your money in your checking account, collecting interest, instead of using a check card. Likewise, when Discover is giving you cash back, why not take advantage of it? Just don't let Discover take advantage of you with interest. Pay it off each month, and you avoid all charges.
There is a drawback to this card, and that is the interest rate. For me, it is not your typical 9.9% Platinum rate. Nonetheless, I pay off this and all of my cards at the end of each month.
The only other drawback of a Discover is that it is not accepted everywhere. Some places still only accept cash or check, while others have a very simple merchant account with only Visa and MasterCard. Usually, I do not have a problem pulling out a Discover card, but on occassion, I have to use another card. Irregardless, I always try the Discover first, because it has the best cash back program out there.
One of the best, easiest-to-use, and most powerful online credit card tools is located at www.discovercard.com. The interface is clean, and it is easy to find any statement, including your current statement before you get it in the mail. You can view all transactions up to date, so you can predit your upcoming statement. Additionally, you can pay your bill, or part of your bill, online using their easy SmartCheck interface. Money is taken from your checking account and applied toward your balance. I have never caught their online system down for system maintenance, and I use it each day. I encourage the use of their system to manage your Discover card.
The Conclusion
The Discover card is the best card on the market. That's why Discover card has more transactions daily than any other single card bank. Their cash back bonus is better than any other program I've seen, mostly because you really get back on almost all purchases, without specific terms and conditions. As long as you pay your card off every month, you can't go wrong with Discover!
Recommended:
Yes
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Epinions.com ID:
wecallis
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Location: Raleigh, NC
Reviews written: 8
Trusted by: 2 members
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